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Cabinet approves 3% hike in Dearness Allowance for Govt employees, pensioners

Move which will benefit more than 1 crore central govt employees and pensioners, the cabinet announced 3% hike in Dearness Allowance (DA) on Tuesday. DA which increased from 9% to 12% will be effective from January 1. It will cost the exchequer over Rs. 9,000 crores. Cabinet also decided to ban Unregulated Deposits Schemes and approved the construction of 1.95 crores additional rural housing under PM housing scheme.